Neverending cycle

Hi folks, long term crypto follower here. There is a strange phenomenon in the crypto world which always repeat itself. You would guess people would learn from the past but no. People always chasing the next hype coin… and create a cult around it. We saw what happened with SafeMoon. Nowadays it's a new coin called Pi Network. A click-a-button-mine-coins thing. The whole project is based on a feature where you have to press a button once in 24 hours to "mine" coins. And you are "mining" more when you invite your friends and families… Additionally you do not have immediate access to your coins. First you need to KYC and get approval from the Pi Network team. What an innovative thing! Still people are talking highly about this project and call it the next big thing and defend the project with everything they have. But it will be like always, people will lose a ton of money because they invest everything into a dream…I am really curious if this cycle will stop in the future but I doubt that.